B _ Corporate Governance Supervisory Board committees Part of the Supervisory Board’s work is carried out by its Supervisory Board committees Responsibilities committees. The Supervisory Board receives regular reports STANDING COMMITTEE – Approval of certain transactions which require the on the activities of its committees. The composition of 5 members approval of the Supervisory Board, e.g., capital – Chairperson: Chairperson measures, acquisitions, and disposals of committees and the tasks assigned to them are regulated by the of the Supervisory Board participations Supervisory Board’s Rules of Procedure, which can be found on (Michael Diekmann) – Preparation of the Declaration of Conformity – Two further shareholder representatives pursuant to § 161 “Aktiengesetz” (German Stock our website at (Herbert Hainer, Jim Hagemann Snabe) Corporation Act) and checks on corporate www.allianz.com/supervisory-board. governance – Two employee representatives (Jürgen – Preparation of the efficiency review of the Lawrenz, Jean-Claude Le Goaër) Supervisory Board AUDIT COMMITTEE – Initial review of the annual Allianz SE and consoli- 5 members dated financial statements, management reports – Chairperson: appointed (including Risk Report) and the dividend proposal, by the Supervisory Board review of half-yearly reports or, where applicable, (Dr. Friedrich Eichiner) quarterly financial reports or statements – Three shareholder – Monitoring of the financial reporting process, representatives (in addition to the effectiveness of the internal control and audit Dr. Friedrich Eichiner: Sophie Boissard, system and legal and compliance issues Michael Diekmann) – Monitoring of the audit procedures, including – Two employee representatives the independence of the auditor and the services (Jean-Claude Le Goaër, Martina Grundler) additionally rendered, awarding of the audit contract and determining the focal points of the audit RISK COMMITTEE – Monitoring of the general risk situation and special 5 members risk developments in the Allianz Group – Chairperson: appointed by the – Monitoring of the effectiveness of the risk Supervisory Board (Michael Diekmann) management system – Three shareholder representatives – Initial review of the Risk Report and other risk- (in addition to Michael Diekmann: related statements in the annual financial Christine Bosse, Dr. Friedrich Eichiner) statements and management reports of Allianz SE – Two employee representatives (Godfrey and the Allianz Group, informing the Audit Hayward, Frank Kirsch) Committee of the results of such reviews PERSONNEL COMMITTEE – Preparation of the appointment of Board of 3 members Management members – Chairperson: Chairperson – Preparation of plenary session resolutions on the of the Supervisory Board (Michael compensation system and the overall Diekmann) compensation of Board of Management members – One further shareholder representative – Conclusion, amendment, and termination of service (Herbert Hainer) contracts of Board of Management members – One employee representative (Gabriele unless reserved for the plenary session Burkhardt-Berg) – Long-term succession planning for the Board of Management – Approval of the assumption of other mandates by Board of Management members NOMINATION COMMITTEE – Setting of concrete objectives for the composition 3 members of the Supervisory Board – Chairperson: Chairperson – Establishment of selection criteria for shareholder of the Supervisory Board (Michael representatives on the Supervisory Board in Diekmann) compliance with the Code’s recommendations on – Two further shareholder representatives the composition of the Supervisory Board (Christine Bosse, Jim Hagemann Snabe) – Selection of suitable candidates for election to the Supervisory Board as shareholder representatives TECHNOLOGY COMMITTEE – Regular exchange regarding technological 5 members developments – Chairperson: appointed by the – In-depth monitoring of the Board of Management’s Supervisory Board (Jim Hagemann technology and innovation strategy Snabe) – Support of the Supervisory Board in monitoring the – Three shareholder representatives implementation of the Board of Management’s (in addition to Jim Hagemann Snabe: technology and innovation strategy Michael Diekmann, Dr. Friedrich Eichiner) – Two employee representatives (Gabriele Burkhardt-Berg, Jürgen Lawrenz) SUSTAINABILITY COMMITTEE – Regular exchange regarding sustainability-related 5 members issues (Environment, Social, Governance – ESG) – Chairperson: appointed by the – Close monitoring of the Management Board’s Supervisory Board (Christine Bosse) sustainability strategy – Three shareholder representatives – Support of the Supervisory Board in the oversight (in addition to Christine Bosse: Sophie of the execution of the sustainability strategy Boissard, Michael Diekmann) – Support of the Personnel Committee of the – Two employee representatives Supervisory Board in the preparation of the ESG- (Gabriele Burkhardt-Berg, Frank Kirsch) related target setting as well as the review of the set targets’ fulfillment for the Management Board’s remuneration As of 31 December 2021 20 Annual Report 2021 − Allianz Group